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64 Country starter pack Conducting business in China 4. Conducting business in China
Country starter pack Conducting business in China 65 Having chosen your strategy for establishing your business, you must consider how to conduct business in China. This includes understanding Chinese business etiquette and culture, developing business relationships, choosing business partners, negotiating, holding meetings and carrying out due diligence. 4.1 CHINESE CULTURE AND BUSINESS ETIQUETTE The Chinese are strongly influenced by Confucianism, which emphasises respect for education, authority and age. Although modern urban Chinese may not adhere to Confucian principles as rigidly as previous generations, these principles continue to underpin many customs and business practices. The deeply rooted importance of family and respect for parents is still very apparent today. The Chinese have a saying: fù zhī guò ( 父之過 ) meaning it is not your fault, but rather placing the blame and therefore the shame on your parents. However, the significance of the opinions of peers is growing, particularly with the one-child policy generation. This also ties in with China’s ‘collectivist’ philosophy, which emphasises relationships, looking after each other, sharing responsibility and that everyone is a part of a hierarchy. The need to belong to and conform to a unit – a family, a political party or an organisation – is a fundamental element of modern Chinese culture. This often translates into the Chinese business culture, in which people highly value positions of authority, the maintenance of harmony via saving face, and the feeling of belonging in a workplace that is comparable to a family environment. Building good business relationships and trust are very important in China, so expect to spend plenty of time at meetings and banquets with your potential business partners. Often these will be done out of business hours with karaoke (KTV) being a favourite medium for developing relationships or at business dinners. Chinese business people prefer to establish a strong relationship before closing a deal and never start a discussion or meeting by getting straight to the point about business. Like other East Asian cultures, the Chinese like to develop a personal connection first. So expect to be asked, and to ask questions, about family. Try to find a connection with your Chinese counterpart and make a note to remember it. For example, if they have a son, remember his name and ask each time you see them how he is.
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PEOPLE'S REPUBLIC OF China COUNTRY
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9.6 million square kmS GDP 2014 SUR
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China

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